How rural banks in the Philippines are becoming more competitive in their markets

Oradian’s cloud-based toolset is designed to enable your rural bank to better manage your IT risks, improve your data security and privacy while boosting your business continuity planning – all essential for compliance.

Complying with the Bangko Sentral ng Pilipinas

The Bangko Sentral ng Pilipinas (BSP) promotes rural development by improving access to financial services for individuals living in remote, hard-to-reach communities. One way that the BSP supports financial inclusion is by providing a framework to ensure that rural banks, the primary financial service providers in many rural communities, manage their IT and operational risks.

The BSP conducts comprehensive audits of rural banks, including how IT risks are managed, how data is stored and how the rural bank is prepared to respond in the case of a disaster or serious incident. Oradian cooperates with your rural bank to improve these three key parts of your business.

1. Enabling you to mitigate your IT risks

For your rural bank, this means that with Oradian’s cloud technology, you tap into global best practice, enhance your IT risk management and comply with regulatory requirements.

Oradian’s cloud-based service is aligned with industry standards and best practices developed by the International Organization for Standardization (ISO) and national government certifications pursuant to North Atlantic Treaty Organization (NATO) standards. Both organisations granted multiple certifications to Oradian after successfully proving and documenting how its cloud technology protects rural banks against IT risks and security breaches.

2.Improve your data security and privacy

With Oradian, you enable your rural bank to properly secure your clients’ data and improve the level of privacy that you provide to your clients.

Data encryption

Your rural bank’s data and your clients’ personal data is transmitted with secured, encrypted connections. This ensures that your data is safe during transit from Instafin to the data centres.

Data storage

All of your data is stored and backed up in European data centres. The data centres have automated disaster recovery, ensuring reliable hosting and no down-time. Oradian offers you data storage that meets security clearances defined by national standards within the European Union.

Data protection

Oradian’s cloud-based banking system, Instafin, protects data by letting you control who sees what. Instafn allows you to create and manage multiple user groups within your staff. For each user group that you create, you define their access levels according to your internal policies.

3.Boost your business continuity planning

Oradian’s cloud-based technology allows you to reduce the risk of down-time and mitigate the risks of natural disasters that your rural bank faces. Oradian’s data centres and your rural bank’s data is protected against common threats: data centre intrusion, fires, power system failures and floods.

By reducing your risks, you ensure that your rural bank continues to operate – without missed opportunities or interruption caused by system failures.

Ready to face the future with certainty?

For more information about how cloud technology enables your rural bank to comply with local regulators, contact our Business Development Team in Manila.